Workiva Inc. (WK) Expected to Announce Quarterly Sales of $50.64 Million
Brokerages expect Workiva Inc. (NYSE:WK) to report sales of $50.64 million for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Workiva’s earnings. The highest sales estimate is $50.80 million and the lowest is $50.50 million. Workiva reported sales of $44.71 million in the same quarter last year, which would suggest a positive year over year growth rate of 13.3%. The business is expected to report its next quarterly earnings report on Wednesday, November 8th.
On average, analysts expect that Workiva will report full-year sales of $50.64 million for the current fiscal year, with estimates ranging from $205.00 million to $205.70 million. For the next year, analysts anticipate that the company will report sales of $234.73 million per share, with estimates ranging from $233.00 million to $236.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Workiva.
Workiva (NYSE:WK) last posted its quarterly earnings results on Thursday, August 3rd. The software maker reported ($0.25) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.06. The firm had revenue of $49.40 million for the quarter, compared to analyst estimates of $48.37 million. Workiva had a negative net margin of 18.94% and a negative return on equity of 13,251.94%. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.20) earnings per share.
A number of research analysts have recently issued reports on WK shares. BidaskClub downgraded shares of Workiva from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. SunTrust Banks, Inc. started coverage on shares of Workiva in a research note on Monday, June 26th. They issued a “buy” rating and a $22.00 price objective for the company. Stifel Nicolaus lifted their price objective on shares of Workiva from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, August 18th. Northland Securities reiterated a “buy” rating and issued a $18.00 price objective on shares of Workiva in a research note on Friday, July 28th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $18.00 price objective (up previously from $16.00) on shares of Workiva in a research note on Tuesday, July 25th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $19.13.
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In other Workiva news, major shareholder Jerome M. Behar sold 1,290 shares of the business’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $20.25, for a total transaction of $26,122.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Jerome M. Behar sold 125,000 shares of the business’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $20.52, for a total transaction of $2,565,000.00. The disclosure for this sale can be found here. Insiders sold a total of 353,730 shares of company stock valued at $7,037,288 in the last quarter. 33.40% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. ETF Managers Group LLC acquired a new stake in shares of Workiva during the second quarter worth approximately $118,000. Legal & General Group Plc raised its stake in shares of Workiva by 9.3% in the second quarter. Legal & General Group Plc now owns 6,999 shares of the software maker’s stock worth $134,000 after buying an additional 597 shares during the period. Bank of Montreal Can acquired a new stake in shares of Workiva during the second quarter worth approximately $162,000. Voya Investment Management LLC acquired a new stake in shares of Workiva during the second quarter worth approximately $192,000. Finally, American International Group Inc. raised its stake in shares of Workiva by 7.0% in the first quarter. American International Group Inc. now owns 13,520 shares of the software maker’s stock worth $212,000 after buying an additional 888 shares during the period. Institutional investors and hedge funds own 43.27% of the company’s stock.
Workiva (NYSE WK) traded up 0.25% during trading on Friday, reaching $19.90. 42,690 shares of the company’s stock traded hands. The company’s market cap is $832.34 million. Workiva has a 12 month low of $12.15 and a 12 month high of $20.95. The firm’s 50 day moving average is $19.75 and its 200 day moving average is $17.40.
Workiva Company Profile
Workiva Inc provides enterprises with cloud solutions for improving productivity, accountability and insight into business data. The Company created Wdesk, a collaborative work management platform for organizations to collect, link, report and analyze their business data. Wdesk’s word processing, spreadsheet and presentation applications are integrated and built upon a data management engine, offering synchronized data, controlled collaboration, granular permissions and a full audit trail.
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